Settlement Agreement and Dispute Ending

Panevezio statybos trestas AB (PST) hereby informs that on 23 January 2024 PST, its former managing director D. Gesevičius and insurers R&Q Syndicate Management Limited and Marco International Insurance Company Limited entered into a settlement arrangement, in accordance with which all court and arbitration proceedings regarding the civil liability of the former managing director D. Gesevičius and the related insurance payouts (all in connection with the fine imposed by the Competition Council of the Republic of Lithuania on 20 December 2017 (No. 2S-11 (2017)) shall be amicably discontinued. Pursuant to the executed settlement agreements, the insurers will pay PST EUR 1,200,000, and PST will waive (withdraw) all its claims against the insurers and the former managing director D. Gesevičius.

More information:
Tomas Stukas
Managing Director
Tel.: (+370 45) 505 503

You May Also Be Interested In

• The MICHELIN Guide Dubai Celebrates its 5th Edition with a Selection That Has Nearly Doubled Since Its Debut
• Governing APIs and AI Agents Wherever They Run: Axway Ranked First in the Distributed API Management Use Case for the Fourth Consecutive Year
• Carbon Streaming Closes Community Carbon Sale and Provides Corporate Updates